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Sona Nanotech Inc. (CSE: SONA,OTC:SNANF), (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce the appointment of Michael A. Fleming to the board of directors of the Company.
Mr. Fleming served as Executive Vice President for commercial operations and subsequently as Chief Strategy Officer of Coherus BioSciences. During his tenure with Coherus, he led the company's transformation from a development-stage organization into a commercial oncology business, architecting the commercial strategy and launch of UDENYCA® (pegfilgrastim-cbqv), Coherus's first oncology asset and a market-leading pegfilgrastim brand.
Earlier in his career, Mr. Fleming held senior leadership roles at Elan, Genentech, and GlaxoSmithKline, where he directed global commercial strategy across multi-billion-dollar franchises and led numerous product launches across oncology, infectious disease, metabolic and specialty therapeutics.
Mark Lievonen, chair of Sona Nanotech commented: "We are delighted to welcome Michael as a director to the Company. Sona will benefit from Michael's significant biotech business experience built over a 35-year career guiding emerging life science companies through critical value inflection points including capital formation, clinical development, and strategic transactions. His direct experience with immune-oncology assets and the relationships he brings will be valuable ."
Michael Fleming commented, "I am delighted to join Sona at this exciting time as it builds on its recent, positive first-in-man clinical experience. Sona's Targeted Hyperthermia Therapy is a compelling potential treatment at a time when oncology is moving toward modulating the tumor microenvironment to engage the immune system in a less toxic way. I look forward to working with the board and management as Sona translates its gold nanorod platform into a therapeutics business."
About Sona Nanotech Inc.
Sona Nanotech is developing Targeted Hyperthermia™, a photothermal cancer therapy, that uses therapeutic heat to treat solid cancer tumors. The heat is delivered to tumors by infrared light that is absorbed by Sona's gold nanorods in the tumor and re-emitted as heat. Therapeutic heat (42-48°C) stimulates the immune system, shrinks tumors, inactivates cancer stem cells, and increases tumor perfusion, an approach aligned with the melanoma research community's active focus on converting immunogenically 'cold' tumors, which resist immunotherapy, into 'hot' tumors that the immune system can recognize and attack, thus enabling drugs to reach all tumor compartments more effectively. Targeted Hyperthermia promises to be safe, effective, minimally invasive, competitive in cost, and a valuable adjunct to drug therapy and other cancer treatments.
Sona has developed multiple proprietary methods for the manufacture of gold nanoparticles which it uses for the development of both cancer therapies and diagnostic testing platforms. Sona Nanotech's gold nanorod particles are cetyltrimethylammonium ("CTAB") free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements regarding the anticipated applications and potential opportunities of Targeted Hyperthermia Therapy; impact and effectiveness of Sona's THT cancer treatment; the timing and receipt of expected positive histological results supporting first-in-man treatment results obtained to date, including the anticipated design, conduct, and outcomes of the IGNITE-THT and PRIME-THT clinical studies; potential future applications of Sona's THT cancer treatment, including the estimated addressable patient population for early-stage melanoma; the timing and completion of Sona's proposed Canadian pilot study and Sona's preclinical and clinical study plans and the potential market impacts of such studies. Forward-looking statements are necessarily based upon a number of assumptions or estimates that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements, including the risk that Sona may not be able to secure the remaining required regulatory approvals for its clinical trials, including the ITA; enroll study participants in a timely manner, successfully obtain sufficient clinical and other data to submit regulatory submissions, raise sufficient additional capital, secure patents or develop the envisioned therapy, the risk that THT may not prove to have the benefits currently reported and anticipated, and general economic, market, competitive and business conditions . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and Sona disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Sona Nanotech Inc.
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